Palm Beach Average Income, Population and Demographics

Are you tired of spending 10+ hours searching for demographic and population data for Palm Beach, Florida? We have all of the data you need by state, county, city, and zip code that will save you many hours of research!

In this article, we'll explore most of the 190+ data points we have for Palm Beach, covering popular demographics statistics like household income, race, age and gender, educational attainment, poverty, housing, and transportation.

The data on this page is from the 2022 American Community Survey (ACS) 5-Year survey from the US Census Bureau.

Median Household Income

According to the latest ACS 5-year survey in 2022, the median household income in Palm Beach is $190,824.00.

The chart below shows the average household income by age in Palm Beach.

  • Under 25
    $0.00
  • 25 to 44
    $183,636.00
  • 45 to 64
    $250,001.00
  • 65 and over
    $168,214.00

Average Household Income

A very commonly asked question is "what is the average household income in Palm Beach, Florida?". The official term for the average household income is the mean household income. The mean household income is the total income of all households divided by the number of households.

The average (or mean) household income in Palm Beach is $365,991.00.

48.31% of households in Palm Beach, Florida are classed as high income households (making $200,000+ per year).

The difference between a median and an average income

The difference between a median and mean household income is that the median income is the middle point of the set of numbers whereas the mean income is an average of all numbers.

Both metrics are important when looking at the income statistics for Palm Beach but because the median value doesn't depend on other numbers in the dataset, it doesn't change as much when some of the values are extremely low or extremely high.

Household Income Tiers for Palm Beach

We can also look at the household income tiers. This lets you see how many households fall into each of the earnings brackets and what percentage that bracket is of the total number of households.

The chart below shows the household income brackets to see which age groups have the highest median income. The actual data is more granular than these brackets, but we've simplified them into bigger categories to make reviewing the data for Palm Beach, Florida easier to view.

You can purchase the raw data above, which will have the full income tiers with smaller jumps in household income.

  • Less than $24,999
    8.27%
  • $25,000 to $49,999
    5.46%
  • $50,000 to $74,999
    6.11%
  • $75,000 to $99,999
    6.42%
  • $100,000 to $149,999
    19.20%
  • $150,000 to $199,999
    6.24%
  • $200,000 or more
    48.31%

Per Capita Income

The per capita income is the average income of all people in Palm Beach, Florida. This is calculated by dividing the total income of all people in Palm Beach by the total number of people in Palm Beach.

It differs from the average or mean household income because it includes all people in Palm Beach and not just the people who earn an income (i.e. children, retirees, unemployed, etc.).

The per capita income in Palm Beach, Florida is $215,141.00.

Population in Palm Beach by Race and Ethnicity

The total population in Palm Beach is currently 9,205 people.

The race and ethnicity of the population in Palm Beach can be very important for social research, economics, and marketing to a multi-culturial society.

Whether you want to target products or services to a particular race or ethnicity, or provide housing and new businesses to improve areas with a larger ethnic minority population, this data is very valuable for discovering suitable areas.

The chart below breaks down the population and percentage for each race and ethnicity in Palm Beach, Florida.

  • 1.30% White
    118
  • 94.80% Black/African American
    8,727
  • 92.40% Native
    8,502
  • 3.90% Hispanic
    358
  • 0.00% Asian
    1
  • 0.40% Hawaiian/Pacific Islander
    35
  • 0.00% Two or more races
    0
  • 1.30% Other
    120

Population of Palm Beach by Age and Gender

Another very important demographics statistic for Palm Beach, Florida is the age and gender of the population. The age and gender of the population can be used to track trends in population growth or decline, and for businesses, the data can be used to identify people important to you and your business need.

In the table below, we show age groups at a 10 year granularity for ease of use. The raw data, which can be purchased above, includes age and gender at a 5 year granularity.

Age Group Male Female
0 to 9 Years 162 99
10 to 19 Years 164 116
20 to 29 Years 89 79
30 to 39 Years 101 100
40 to 49 Years 251 207
50 to 59 Years 465 606
60 to 69 Years 800 1,250
70 Years and over 2,207 2,509

Education Levels

Educational attainment is a very useful statistic that can give insights into other data such as the average household income, unemployment levels, and literacy.

What this means is that it is likely for areas that have higher levels of education to have higher average household incomes, lower unemployment rates, and higher literacy rates.

The chart below shows the educational attainment of the population in Palm Beach, Florida.

  • Master's degree or higher
    26.94%
  • Bachelor's degree
    52.99%
  • Some college or associate's degree
    5.83%
  • High school diploma or equivalent
    12.73%
  • Less than high school diploma
    1.51%

Unemployment Rates

The unemployment rate is the percentage of the population that is actively looking for work but is unable to find a job. The unemployment rate is a very important statistic for Palm Beach because it can show how many people are actively looking for work and how many people are unable to find a job.

Lower levels of unemployment is generally seen as a positive sign for the economy. It also makes the government in Palm Beach look good because it shows that they are doing a good job of creating jobs, working to capacity, being efficient, and keeping the economy strong.

The unemployment rate is calculated using the total population in Palm Beach, Florida that are over the age of 16.

The current population in Palm Beach that are over the age of 16 is 8,715 people.

The unemployment rate in Palm Beach is 5.60%, which means 154 people are unemployed.

Median Age in Palm Beach

The median age is an interesting metric because it gives us an idea of the age distribution of people in Palm Beach, Florida. You know when you see a median age that it is the age where half of the population is older and half is younger than it.

For demographic studies, this can be used to infer and compare date to things such as birth rates, the age of parents, and so on.

An increasing median age can be a sign of an aging population, which can be a sign of a declining population. This is because older people tend to have fewer children and die more often than younger people.

The median age in Palm Beach is 70.7 years old.

We can also look at the median age by gender to compare the see how each group compares to the total median age:

Median age by gender in Palm Beach

70.7

Total

71.3

Male

70.3

Female

Households and Families

There are a total of 5,370 households in Palm Beach, and the average household size is 1.71 people.

For families, the total number is 2,832, and the average family size is 2.24 people.

2.70% of those families in Palm Beach, Florida are living below the poverty line.

The table below shows the poverty thresholds for Palm Beach in .

Household Size Poverty Threshold
1 Person $14,580.00
2 People $19,720.00
3 People $24,860.00
4 People $30,000.00
5 People $35,140.00
6 People $40,280.00
7 People $45,420.00
8 People $50,560.00

Please note that the poverty thresholds shown above are from , while the latest demographics data we have is from 2022.

Households and Families by Marital Status

There are four types of household and family, as defined by the Census Bureau:

  • Married-couple
  • Male householder, no spouse present
  • Female householder, no spouse present
  • Nonfamily household

In the table below, you can see the total households and families in Palm Beach, Florida for each type, as well as the average sizes.

Married Male Female Nonfamily
Total Households 2,658 40 134 2,538
Average Household Size 2.27 2.1 2.51 1.08
Total Families 2,658 40 134 0
Average Household Size 2.23 2.1 2.51 0

Housing Data in Palm Beach

There are total of 10,279 housing units in Palm Beach, Florida. Of those units, 5,370 (52.24%) are occupied, and 4,909 (47.76%) are vacant.

Rental Rates

Of the 10,279 housing units in Palm Beach, 708 (6.89%) are occupied by renters. The median rent paid by renters is $1,793.00.

Owner occupied housing units make up the remaining 43.96% of housing units, with 4,519 housing units in total.

The table below breaks down how much rent is paid by renters in Palm Beach, Florida.

  • No rent paid
    143
  • Less than $500
    16
  • $500 to $999
    43
  • $1,000 to $1,499
    100
  • $1,500 to $1,999
    333
  • $2,000 to $2,499
    35
  • $2,500 to $2,999
    44
  • $3,000 or more
    137

Property Values

The median value of a property in Palm Beach is $1,679,800.00.

The table below breaks down the range of valuations for all properties in Palm Beach.

  • Less than $50,000
    102
  • $50,000 to $99,999
    0
  • $100,000 to $149,999
    26
  • $150,000 to $199,999
    87
  • $200,000 to $299,999
    96
  • $300,000 to $499,999
    506
  • $500,000 to $999,999
    719
  • $1,000,000 or more
    2,983

Property Age

We can also look at the number of properties built in a given year to see the spread of property age in Palm Beach, Florida.

  • 1939 or earlier
    1,192
  • 1940 to 1949
    431
  • 1950 to 1959
    804
  • 1960 to 1969
    2,560
  • 1970 to 1979
    2,382
  • 1980 to 1989
    1,796
  • 1990 to 1999
    434
  • 2000 to 2009
    475
  • 2010 to 2013
    205
  • 2014 or later
    0

Vehicles Available per Household

Finally, we have data on how many vehicles each household in Palm Beach has. The table below breaks down the number of vehicles available per household.

  • No vehicles available
    180
  • 1 vehicle available
    2,588
  • 2 vehicles available
    1,922
  • 3 or more vehicles available
    680

Commuting to Work in Palm Beach

The time and means of commuting to work are useful metrics to look at because they can be correlated against other data such as income and education level.

Does a longer commuting time indicate a higher average income? If so, has the huge increase in home working during the pandemic changed this?

Using these metrics, we can get a better understanding of the demographics of Palm Beach, Florida, how they commute, and how that correlates to other data points.

The average travel time is 25.3 minutes, and the chart below covers the range of travel times across the population of Palm Beach.

  • Less than 5 minutes
    102
  • 5 to 9 minutes
    225
  • 10 to 14 minutes
    447
  • 15 to 19 minutes
    149
  • 20 to 24 minutes
    90
  • 25 to 29 minutes
    191
  • 30 to 34 minutes
    88
  • 35 to 39 minutes
    47
  • 40 to 44 minutes
    35
  • 45 to 59 minutes
    50
  • 60 to 89 minutes
    146
  • 90 or more minutes
    54

We can also look at the means of transport in Palm Beach to see which modes of transport people are using to commute to work.

  • Drove alone
    1,137
  • Carpooled
    39
  • Public transportation
    29
  • Walked
    183
  • Other means
    236
  • Worked from home
    906

Conclusion

Hopefully this article has given you the demographics data you were looking for in Palm Beach, Florida.

If you need more demographics data, or you need the data listed above in spreadsheet form with more granular grouping, head back to the top of this page where you can purchase the complete demographics data for Palm Beach.

Link To or Reference This Page

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If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference Name Census as the source. We appreciate your support!

  • "Palm Beach Average Income, Population and Demographics". NameCensus.com. Accessed on June 22, 2024. https://namecensus.com/demographics/florida/palm-beach-county/palm-beach/.

  • "Palm Beach Average Income, Population and Demographics". NameCensus.com, https://namecensus.com/demographics/florida/palm-beach-county/palm-beach/. Accessed 22 June, 2024

  • Palm Beach Average Income, Population and Demographics. NameCensus.com. Retrieved from https://namecensus.com/demographics/florida/palm-beach-county/palm-beach/.